Additional comments – Australian Greens

1.1The Australian Greens strongly believe that in negotiating any trade agreement, the principles of fair trade, rather than free trade, should be the paramount consideration.

1.2The Australian Greens support a more open and transparent approach to negotiating trade agreements, before and during negotiations. This inquiry showed that a lack of transparency is a core issue with Australia’s approach to negotiations. The Australian Fair Trade and Investment Network (AFTINET) highlighted in their submission the current process, stating that ‘there is no independent assessment of the economic costs and benefits of the agreement, nor of health, environmental, gender or regional impacts, before it is signed.’[1] Further AFTINET highlighted that inquiries similar to this one have occurred in 2003, 2021, 2015, 2021 ‘… all of which recommended increased transparency and accountability.’[2]The Australian Greens believe that the recommendations in this report do not sufficiently address the concerns raised, especially around the need for greater transparency. The Australian Greens continue to call for greater transparency in this process, including public consultations and independent evaluations that are presented to the Parliament before agreements are signed.

1.3Trade agreements must support the rights of First Nations peoples. This includes ensuring that communities benefit from these agreements, obtaining free, prior and informed consent, ensuring First Nations businesses are at meeting or part of trade delegations. The Australian Council of Trade Unions advocated for this in their submission.[3]Mr Godwell from i2i Development Global also highlighted the need for First Nations interests to be considered and the benefits that this can bring. ‘A key part of lifting the value of export earnings derived from Indigenous products and then from Indigenous businesses goes to the extent of the support we extend to those Indigenous export businesses. The annual measurement of the value of foreign direct investment into Indigenous businesses appears to be non-existent.’[4]

1.4Mr Godwell also spoke about the opportunity of inclusion chapters:

Our agreements on trade and investment matters are the enabling architecture that supports Australia's national interests. The prospects of having those agreements supporting and advancing Indigenous interests actually goes to our Australian national interests. It goes to item f. of the terms of reference of the committee's current inquiry, which is the agreements and the way they protect and advance Australia's national interest. Honestly, if we are dealing with a portion of the Australian economy and society that has interests in over 50 per cent of the Australian continent, I don't think you could get a better case for Indigenous inclusion and what is in Australia's national interest.[5]

1.5The Australian Greens support this statement and continue to call for any trade agreements to have inclusion chapters for women and gender diverse people, young people, First Nations peoples and small businesses.

1.6Finally, Environmental, Social, Governance Standards (ESG) are becoming increasingly important in global investment practices and trends. It requires the deployment of capital to projects and activities that achieve the United Nations Sustainable Development Goals (SDGs) and by doing so it also attracts capital. The Australian Greens call for a legislated ESG framework, including definitions, to create a truly transformative impact for governance, climate change and in the social and community sphere. Without a framework in Australia to measure claims against, any statements about Australia’s ESG credentials are meaningless.

Senator Dorinda Cox

Footnotes

[1]Australian Fair Trade and Investment Network, Submission 8, p. 8.

[2]Australian Fair Trade and Investment Network, Submission 8, p. 9.

[3]Australian Council of Trade Unions, Submission 49, p. 23.

[4]Mr Darren Godwell, Chief Executive Officer, i2i Global, Proof Hansard, Canberra, 14 March 2024, p. 1.

[5]Mr Darren Godwell, Chief Executive Officer, i2i Global, Proof Hansard, Canberra, 14 March 2024, p. 2.